Hanoi news

Credit grows 8.15 percent in first half in Hanoi

The total outstanding loans in Hanoi was estimated at 1.6 quadrillion VND (70 billion USD) in the first half of this year (Photo: VNA)

The total outstanding loans in Hanoi
was estimated at 1.6 quadrillion VND (70 billion USD) in the first half of this
year, according to the State Bank of Vietnam’s Hanoi branch.

It
represented a rise of 8.15 percent over December 31, 2016 and 16 percent over
the same period last year.

The credit mainly went into business and
production, with 41.9 percent of the outstanding loans pouring into small- and
medium-sized enterprises, 7 percent for agriculture and rural sector, and 9.8
percent for export.
Deposits
in credit institutions in the capital city rose 5.39 percent in the first six
months of this year over the end of last year to touch 1.7 quadrillion VND.

The
central bank’s Hanoi branch said that the deposits met the capital demand of
businesses and other investments, as well as ensured liquidity.

Overdue
debts accounted for 2.82 percent of the total outstanding loans.

Deposit rates for Vietnamese dong were around 4.5 percent to 5.5 percent per
year for a term of six to 12 months and 6.5 percent to 7.8 percent for
more than 12-month term.

Lending
rates were at 6 percent to 7 percent for short-term loans and 9 percent to 10
percent for medium- and long-term loans.

The
foreign exchange rates were also stable in the first half of this year,
according to the central bank’s Hanoi branch.-VNA